Home›Forex›Major Pairs›PBOC sets USD/CNY reference rate at 6.7928 for Tuesday

PBOC sets USD/CNY reference rate at 6.7928 for Tuesday

The PBOC set the USD/CNY central rate at 6.7928, up from the previous fix of 6.7911.

Reported · Written up by our desk · Major Pairs

FXStreet reports that the People’s Bank of China (PBOC) set the USD/CNY central reference rate for the Tuesday trading session at 6.7928.

The PBOC’s fix compares with the previous day’s reference rate of 6.7911.

The central bank said its primary monetary policy objectives include safeguarding price stability, with exchange rate stability, and promoting economic growth.

FXStreet also notes the PBOC is state-owned and uses multiple policy tools, including reverse repo operations, medium-term lending facilities, and foreign exchange interventions, alongside the Loan Prime Rate that can influence borrowing costs and the exchange rate of the renminbi.

More like this

Sources